INVESTING
Forex Brokers
Monitored brokers who operate on the Forex market so that you and other traders can access reliable information about each broker company
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PROS:
- Regulated by CySEC, FCA & ASIC for enhanced client safety.
- Wide asset selection: Forex, indices, stocks, commodities & crypto.
- Intuitive MT4/MT5/web/mobile platforms with full customization.
- $0 minimum deposits; free demo account with $100k virtual funds.
- Advanced tools including copy/social trading & algorithmic support.
CONS:
- Not available to residents of US, Japan, Mainland China & select countries.
- Withdrawal fees apply ($5 or variable by method/crypto).
- Inactivity fee after 12 months with no activity ($10/month).
- Currency conversion incurs a 0.5% fee if not matching base currency.
- Maximum leverage up to 1:500 increases risk for inexperienced users.
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PROS:
- Regulated by CySEC, FCA & ASIC for enhanced client safety.
- Wide asset selection: Forex, indices, stocks, commodities & crypto.
- Intuitive MT4/MT5/web/mobile platforms with full customization.
- $0 minimum deposits; free demo account with $100k virtual funds.
- Advanced tools including copy/social trading & algorithmic support.
CONS:
- Not available to residents of US, Japan, Mainland China & select countries.
- Withdrawal fees apply ($5 or variable by method/crypto).
- Inactivity fee after 12 months with no activity ($10/month).
- Currency conversion incurs a 0.5% fee if not matching base currency.
- Maximum leverage up to 1:500 increases risk for inexperienced users.
Headway is a full-service online trading broker offering access to forex, stocks, indices, commodities and cryptocurrencies with ultra-low minimums, modern mobile apps and both MetaTrader 4 and 5 support.
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PROS:
- Very low minimum deposit of US$1 makes Headway accessible to new traders.
- Broad instrument range (forex, stocks, indices, commodities, crypto) allows diversified trading.
- Supports both MetaTrader 4 and MetaTrader 5 platforms, plus mobile apps.
- Marketing of unlimited leverage (under certain conditions) and zero-commission deposits/withdrawals.
- Promotions and recognition (e.g., awards) give a positive marketing image.
- Good user reviews for ease of use and low entry-barriers for beginners.
CONS:
- Regulatory status is opaque (see next section); some caution required.
- Whilst marketing claims unlimited leverage, in practice high leverage increases risk.
- Some user reviews report withdrawal delays or possible issues with bonus-account terms.
- Bonus/promotions may come with complicated terms (e.g., you may need to trade a certain volume before withdrawing profit).
- As with many brokers targeting global audiences, geographic restrictions and local regulatory coverage may limit availability.
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PROS:
- Wide range of tradable assets across Forex, Stocks, Indices & Crypto.
- Super-tight spreads from 0 pips on Pro accounts.
- Competitive maximum leverage up to 1:5000.
- Simple onboarding with deposits starting at just $10.
- User-friendly web terminal plus mobile apps for both iOS & Android.
CONS:
- Offshore registration may offer less investor protection than tier-one regulated brokers.
- No detailed public information about fund segregation practices yet.
- Not available for traders in the Americas, Arab states or CIS countries.
- Limited customer support options—primarily contact form only.
- Educational content and advanced analytical tools are relatively limited.
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PROS:
- Over 26,000 tradable assets available.
- Low minimum deposits starting at $30.
- Access to advanced TradingView analytics with up to 25 indicators per chart.
- Multiple account types including ECN & Raw spreads.
- Copy/social trading via proprietary system.
CONS:
- Offshore regulation may provide less investor protection than top-tier jurisdictions.
- No swap-free or Islamic account options offered.
- Headquarters location not publicly listed for transparency-seekers.
- Limited details on withdrawal/deposit fees upfront.
- No explicit mention of inactivity or maintenance fee structure.
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PROS:
- Multiple account options from STANDARD to institutional-grade Custom Account.
- Access to over 71,000 tradeable products across forex, metals, indices CFDs & energies.
- Supports advanced charting tools & algorithmic trading through MetaTrader 5.
- Wide range of payment methods: bank transfers, cards, e-wallets & crypto payments.
- Free demo accounts for risk-free strategy testing.
CONS:
- Offshore registration means limited regulation compared to FCA or CySEC brokers.
- User feedback highlights platform instability and poor ease-of-use experience.
- Lack of clarity around commissions/fees and execution model details.
- Customer support reported as inconsistent and sometimes unresponsive.
- No proprietary innovations beyond what the standard MT5 platform offers.
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PROS:
- Supports eight base currencies including Bitcoin.
- MetaTrader 5 available on all major devices.
- Offers automated trading and copy/social trading features.
- Low starting deposit from $50 with tiered accounts up to VIP level.
- Real-time market sentiment tools powered by Acuity Trading integration
CONS:
- Not regulated by top-tier jurisdictions such as FCA or ASIC.
- Customer support limited primarily to email; no live chat or phone lines stated.
- Inactivity fees apply after one year of dormancy.
- U.S., Canadian, EU (Belgium), Indian & certain other residents cannot open accounts.
- Withdrawal fees range up to 2% based on payment method used.
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PROS:
- Ultra-low minimum deposit starting at $5.
- Raw spreads as tight as 0.0 pips.
- Advanced platform options: MetaTrader 4 & MetaTrader 5.
- Full Expert Advisor (EA) compatibility for automated trading.
- Multilingual customer service available via multiple channels
CONS:
- Not available to clients in the USA, Cuba, or North Korea.
- Highest investor protections apply only under EU-regulated entities.
- Leverage up to 1:1000 may be risky for inexperienced traders.
- Withdrawal fees vary depending on payment method used.
- Options trading is not supported.
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PROS:
- Supports both MetaTrader 4 & MetaTrader 5 plus browser-based WebTrader.
- Over 1,000 instruments (forex, metals, commodities, stocks, indices & crypto).
- Algorithmic/automated trading available via EAs and API integration.
- Multilingual customer support covering Asian/Global languages.
- Negative balance protection provided on all accounts.
CONS:
- Overseen solely by Vanuatu FSC; not top-tier regulated.
- No publicly verified fund segregation or advanced security disclosures.
- Inactivity fee applies after six months ($10/month).
- Some promotional conditions may be restrictive—review T&Cs carefully.
- Proprietary charting tools are limited to what’s standard on MT4/MT5.
Orbex is a regulated online Forex & CFD broker (est. 2011) that offers MetaTrader 4/5, up to 1:500 leverage, account minimums from USD 100 and a tiered account structure to suit beginners through professionals.
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PROS:
- Orbex offers a regulated environment with multiple licences (CySEC, FSC) which helps bolster credibility and trader safety.
- The broker provides access to popular platforms (MetaTrader 4 and 5), facilitating ease of use for many traders.
- The account structure allows low minimum deposit entry (from USD 100) making it accessible for beginners.
- Tight spreads (in certain account types starting from 0.0 pips) and high leverage (up to 1:500 for eligible clients) are attractive features.
- The presence of added-value services — such as VPS, research tools (Trading Central), and educational resources — improves the user experience for both novice and advanced traders.
CONS:
- While Orbex claims global reach, some geographies are restricted (see later section) and not all account types may be available.
- The best spread conditions and commissions apply only in higher-tier accounts (e.g., Premium/Ultimate) which require larger deposits; this may limit value for smaller traders.
- Some third-party reviews highlight that the broker lacks certain features (e.g., copy-trading/social trading) and that customer support performance has mixed ratings.
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PROS:
- Regulated by the UK Financial Conduct Authority (FCA) for strong client safety.
- Offers MetaTrader 4/5 and proprietary KimuraTrader platform—available on desktop and mobile.
- Advanced algo-trading support with API access; full compatibility with EAs/scripts.
- Over 200 assets: forex pairs, stocks, indices, commodities, bonds, ETFs & cryptocurrencies.
- Integrated loyalty program rewards active traders with spread reductions and exclusive benefits.
CONS:
- Inactivity fee of $10/month after six months if balance is under $100.
- International bank withdrawals incur a fixed $25 fee per transaction.
- Credit/debit card deposits attract a 2.5% processing fee.
- Restricted in several major countries including US and Japan due to regulations.
- Currency conversion fees apply outside base USD/EUR/GBP/JPY/AUD/CAD/CHF pairs.
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PROS:
- Competitive variable spreads starting from zero pips.
- Access to over 80+ trading instruments including major currency pairs and digital assets.
- Supports advanced algorithmic trading (EAs) through MT4 & MT5 platforms.
- Zero charges on deposits or withdrawals; multiple fast payment methods available.
- Free demo accounts and swap-free (Islamic) account types provided.
CONS:
- No FCA/ASIC top-tier regulatory license; limited investor protection measures.
- Scalping strategies strictly prohibited by policy.
- Reports of mixed user experiences regarding withdrawal processing times.
- Inactivity fee of $15/month applies after six months without trades.
- Restricted access for residents in the EU region, USA, Canada, Belgium, India, Russia.
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